Vusion · EURONEXT:VU
Vusion — H1 2026 Earnings Presentation
25 slides from Vusion's earnings presentation, Jul 30, 2026
Slide 1: H1 2026 Sales
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Slide 2: Agenda
Agenda 01 02 03 04 Introduction H1 Outlook Q&A Highlights Olivier Gernandt Thierry Gadou Thierry Gadou Thierry Gadou & Investor Relations Chairman & CEO Chairman & CEO Thierry Lemaitre Officer 2
Slide 3: Disclaimer
Disclaimer This presentation contains unaudited financial This presentation contains forward-looking information and statements. These forward-looking information. In addition, this presentation statements include financial projections, estimates and statements regarding plans, objectives includes p
Slide 4: H1 2026 Revenue
Record H1 2026 Continued FY 2026 H1 2026 Revenue VAS Increase Outlook Revenue Confirmed €839m Adjusted Revenue €125m VAS Sales +15% to +20% +29% YOY (+37% at (+39% growth Adj. Revenue Growth constant FX & Tariffs) representing 15% of (at constant FX & Tariffs) Group sales) €681m Order Entries +40% €
Slide 5: Strong H1 Revenue Growth
Strong H1 Revenue Growth Adjusted Sales in €m 839 • Strong growth at +29% in adjusted revenue, reaching €839m • IFRS Revenue of €820m (+34%) +29% • At constant exchange rates and tariffs, 649 adjusted revenue growth stood at +37% • H1 2026 order intake of €681m in line with expectations and up +7% Y
Slide 6: H1 Sales growth in North America and Europe
Americas/APAC EMEA H1 Sales growth in North €m America and Europe 839 +29% 209 +6% 649 • AMERICAS/APAC: €630m, up +39% 198 growth mainly driven by the United States. • EMEA: €209m, up +6%. Strong growth in 630 +39% order entries in H1 bodes well 452 for anticipated ramp up in revenue in H2. H1 2025
Slide 7: Carrefour and Vusion join forces to deploy the smart store at scale
Carrefour and Vusion join forces to deploy the smart store at scale 7
Slide 8: The strategic partner of the digital transformation of Carrefour
The strategic partner of the digital transformation of Carrefour 1,300 Hyper & Supermarkets in France to be deployed with EdgeSense, Captana and the Vusion Cloud platform 3-year exclusivity in Europe Joint Innovation Center with Carrefour Next Retail Experience Center 8
Slide 9: Extended Partnership with JYSK
Extended Partnership with JYSK Upgrade of 450 Nordic stores to the latest Vusion ESL technology Expansion to 750 additional stores across Europe Full fleet transition to VusionCloud, with scale expected to reach 2,500 stores by 2027 across the Nordics, DACH and Benelux regions 9
Slide 10: Decathlon Reaches 700 Stores Equipped with Vusion Solutions
Decathlon Reaches 700 Stores Equipped with Vusion Solutions 700 stores equipped as of end of Q2 2026 Total fleet of 1800 stores in 54 countries and across 3 continents Decathlon is now Vusion's most internationally deployed customer to date Cloud platform 10
Slide 11: Expanding EMEA Footprint with Gratis in Turkey
Expanding EMEA Footprint with Gratis in Turkey 300 stores to be deployed in 2026 Another 500 stores to be deployed in 2027 & 2028 2 million ESLs to be connected to VusionCloud platform The Turkish market is becoming an increasingly important growth driver for the EMEA region 11
Slide 12: Expansion of the Walmart Strategic Partnership into Mexico
Expansion of the Walmart Strategic Partnership into Mexico All Walmart Express stores fully deployed by the end of 2026 Expansion planned to all Walmart Supercenters A pilot deployment meant to take place in the Bodega format. 12
Slide 13: Order Entries
Order Entries €m 365 €681m order entries, in line with 341 +7% expectations (-22% vs. H1 2025) Q2 order entries up +7% vs. Q2 2025 and up +16% vs. Q1 2026 Gradual recovery in order intake throughout 2026 confirmed Q2 2025 Q2 2026 13
Slide 14: Strong growth in VAS
Strong growth in in €m VAS 125 +39% Q2 2026 annualized VAS recurring 91 64 +18% revenue (ARR) at €133m (up +18% vs. Q1 2026 and +83% YoY) 56 +39% growth in H1 2026 at €125m (representing 15% of Group sales) 61 +73% 35 Recurring VAS at €61m, up +73% vs. H1 2025, driven by strong momentum H1 2025 H1 2
Slide 15: VusionCloud Platform Reaches 0.5 Billion Connected Devices
VusionCloud Platform Reaches 0.5 Billion Connected Devices 0.5b Cloud-Connected Devices in Millions Growth driven by: 522 New rollouts natively IoT devices connected to on the Cloud the Cloud Migration of existing x2.4 customers’ installed based to the Cloud 220 H1 2025 H1 2026 15
Slide 16: The Next Big Digital Media is the Physical Store
The Next Big Digital Media is the Physical Store Retail Media & Shopper Experiences
Slide 17: Proprietary and confidential. Do not distribute.
Proprietary and confidential. Do not distribute. 17
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Slide 21: Outlook
Outlook
Slide 22: 2026 Outlook Confirmed
2026 Outlook Confirmed +15 to (€m) Adjusted revenue +20% +15 to +20% Group Adjusted 1,527 Revenue growth expected in FY 2026 at constant Forex and Tariffs VAS Revenue to grow 2x faster 1,010 than total Group Revenue 805 Profitability improvement with adjusted 621 EBITDA margin1 growing by more than
Slide 23: Q&A
Q&A Thierry Gadou & Thierry Lemaître – H1 2026 Sales
Slide 24: H1 2026 Sales
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Slide 25: Appendix: Note on the IFRS Restatements related to the Walmart contract
Appendix: Note on the IFRS Restatements related to the Walmart contract Adjusted figures reflect the reported financials before adjusting for certain non-cash IFRS restatements related to the Walmart contract. These adjustments only impact the Americas & Asia-Pacific region. Several IFRS restatement